Book a Viewing
To book a viewing for this property, please call Lafford James, on 01908 888270.
To book a viewing for this property, please call Lafford James, on 01908 888270.
Other, West Street, Buckingham, MK18 1HL
West Street, Buckingham, MK18 1HL
Lafford James
Luminous House, 300 South Row, Milton Keynes
Description
*** Freehold Investment *** Town centre, mixed-use, residential, and commercial investment offering a good current yield with scope for enhancement and a rent increase. The property comprises a Georgian, Grade II listed building in Buckingham town centre with four residential apartments, all let and two commercial units (one let). The investment when fully occupied is likely to generate in excess of an 8% gross yield. There are four apartments (three one-bedroom and one two-bedroom).
Virtual Tour
https://my.matterport.com/show/?m=ph5h6e5aJAbKey Features
- Investment 4 Residential Flats (All Let)
- Investment Two Commercial Shops and Offices (One Let)
- Gross Yield (When Occupied) 8%
- 3,936 Square Feet Floor Area
- Grade II Listed Georgian Building
- Scope to Enhance Property and Return
- Prominent Buckingham Town Centre Location
- Virtual Tour On Line
Property Details
- Price Per Sq Foot: £153
- Approx Sq Feet: 3,929 sqft
- Plot Sq Feet: 3,617 sqft
- Property Age Bracket: Georgian (1710 - 1830)
- Council Tax Band: TBD
Rooms
Commercial Unit 4 West Street
Currently used as a take away and is let on a licence
Commercial Unit 5 West Street
Commercial unit with storage and three separate offices to the rear. Currently unoccupied previously let at £12,000 per annum. There is a large amount of cellar storage with potential.
View Commercial Unit 5 West Street PhotosFlat 1, 5 West Street
1 bedroom first-floor apartment, front facing with Let on an Assured Shorthold Tenancy the existing tenant has lived here for many years.
Flat 2, 5 West Street
Character first-floor apartment, with mezzanine bedroom. The flat is currently let on an assured shorthold tenancy.
Flat 3 5 West Street
First-floor rear-facing one-bedroom apartment with a separate kitchen and shower room. The property is let on an assured shorthold tenancy.
View Flat 3 5 West Street PhotosFlat 4, 5 West Street
Top Floor two-bedroom apartment with sitting room, kitchen, and two bedrooms, full of beams and character. The property is let on an assured shorthold tenancy.
Investment Detail Rental Amounts and Yield
The residential aspect currently generates income as follows: Flat 1 £4800 pa Flat 2 £7800 pa Flat 3 £7140 pa Flat 4 £8280 pa Combined the residential units are generating £ 28,020 Commercial unit 4 is let at £8,000 pa on a licence for Commercial unit 5 is expected to achieve £12,000 pa Fully occupied the investment would show an income of £48,020 pa a gross rental yield of 8%
Council Tax
The four flats are all Band A and the current amounts payable by tenants are £1,440.10 year 2022/2023
Business Rates
To follow
Floorplans
Outside Spaces
Yard
Small yard to rear with a communal metal fire escape. Gated rear access.
Parking Spaces
On street
Capacity: N/A
As a town centre property, there is no dedicated parking with the property.
Location
Located in the rural north of Buckinghamshire with a fascinating history and abundant green spaces, Buckingham is in the heart of south-east England, 65 miles from the centre of London, 25 miles from Oxford and neighbouring many great attractions such as Stowe Landscape Gardens and Silverstone Race Track. The town is well served by roads, being easily located between the M1 to the east and the M40 to the west. A422 and A421 link directly with the town centre with convenient car parking. Local train links include Milton Keynes which is 13 miles away, Milton Keynes is on the main west coast line between London Euston, Birmingham, Manchester and Scotland. Other local stations include Bicester North station (11 miles) which is on the Chiltern main line and Bicester Village station (12 miles). Buckingham’s central location makes it the ideal base for visiting the surrounding countryside, attractions, towns and cities.
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